Heller v. Commissioner
United States Tax Court
1. Amount paid by petitioner to attorneys for services rendered to him under a California statute authorizing a proceeding to require a corporation, merging or consolidating with another, to pay dissenting shareholders the fair market value of their stock held deductible as a nontrade or nonbusiness expense. 2. Petitioner and the other two stockholders of a Delaware corporation organized a new California corporation to take over its business, assets, and liabilities.
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1. Amount paid by petitioner to attorneys for services rendered to him under a California statute authorizing a proceeding to require a corporation, merging or consolidating with another, to pay dissenting shareholders the fair market value of their stock held deductible as a nontrade or nonbusiness expense. 2. Petitioner and the other two stockholders of a Delaware corporation organized a new California corporation to take over its business, assets, and liabilities. Pursuant to plan, they gave their checks to the new corporation for its stock, the new corporation acquired the assets of the…
1Opinion of the Court
Mellott, Judge:
The Commissioner determined a deficiency in the income tax of petitioner for the calendar year 1937 in the amount of $7,952.40. In an amended answer he asks for an increased deficiency in the aggregate amount of $35,265.35.
The issues are:(1) Is petitioner entitled to a deduction of $2,145 because of a payment made during 1937 to attorneys for services rendered to him as a “dissenting shareholder,” under a California statute which authorizes a proceeding to require a corporation, merging or consolidating with another, to pay dissenting shareholders the fair market value of their…
2Cases cited3 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Minnesota Tea Co. v. HelveringSupreme Court of the United States · 1938
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
3Cited by68 opinions
- Woodward v. CommissionerSupreme Court of the United States · 1970
- James Armour, Inc. v. CommissionerUnited States Tax Court · 1964
- Kelly v. CommissionerUnited States Tax Court · 1955
- Gallagher v. CommissionerUnited States Tax Court · 1962
- Aqualane Shores, Inc. v. CommissionerUnited States Tax Court · 1958
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